Feb 17 2010
MarketsandMarkets has published a new market research report titled, Global Biodiesel Market (2009 - 2014). By 2014, the total biodiesel market in the world is anticipated to be valued at US$12.6 billion, according to the report. The revenues in the American and European markets are expected to account for 28.6% and 55.6% of the US$12.6 billion.
The emerging biodiesel market is due to increasing concerns for environment as well as for energy independence. In 2009, in spite of economic recession, the biodiesel market across the world totaled 5.1 billion gallons, an increase of 17.6% over 2008 levels. The value of the global biodiesel market in 2009 was $8.6 billion and is expected to grow to $12.6 billion by 2014. The growth of biodiesel is mainly dependent on the yield, quality and availability of the feedstock.
In the overall biodiesel market, the largest segment is represented by biodiesel produced from rapeseed oil. Germany is the largest producer of biodiesel with a production of 2.8 million tons in 2008. Countries such as China, India, and U.K. offer significant biodiesel opportunities since the cost of diesel fuel is high as well as the presence of a large number of vehicles that run of diesel.
About 70% of the biodiesel production throughout the world is used by automobile sector. Governments throughout the world have started providing incentives for using green energy, since the use of conventional fuels in the transportation sector is contributing to the increase of greenhouse emissions at an appalling rate.
The report provides in-depth analyses of the biodiesel markets in Americas’ four major geographies, Asia, Europe, and ROW.
Source: http://www.marketsandmarkets.com